Formula Growth Ltd. Invests $5 Million in CECO Environmental Corp. $CECO

Formula Growth Ltd. bought a new stake in CECO Environmental Corp. (NASDAQ:CECO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 55,159 shares of the company’s stock, valued at approximately $5,005,000. CECO Environmental accounts for 1.8% of Formula Growth Ltd.’s portfolio, making the stock its 6th biggest position.

Other hedge funds have also bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new stake in CECO Environmental in the 2nd quarter valued at about $7,410,000. Panoramic Capital LLC bought a new stake in shares of CECO Environmental in the second quarter valued at approximately $7,936,000. Bank of America Corp DE acquired a new stake in CECO Environmental during the second quarter worth approximately $21,188,000. Councilmark Asset Management LLC bought a new position in CECO Environmental during the 2nd quarter worth $549,000. Finally, Jupiter Topco LLC acquired a new position in CECO Environmental in the 2nd quarter valued at $86,194,000. 68.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on CECO shares. TD Cowen began coverage on CECO Environmental in a report on Wednesday, August 5th. They set a “buy” rating and a $85.00 target price on the stock. Lake Street Capital increased their price objective on shares of CECO Environmental from $80.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. JPMorgan Chase & Co. began coverage on shares of CECO Environmental in a research report on Thursday, July 9th. They issued an “overweight” rating and a $130.00 target price for the company. Zacks Research lowered shares of CECO Environmental from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Northland Securities set a $125.00 price objective on shares of CECO Environmental in a research note on Thursday, August 13th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, CECO Environmental presently has an average rating of “Moderate Buy” and a consensus price target of $104.88.

CECO Environmental Trading Up 2.6%

CECO opened at $72.14 on Friday. The company has a market cap of $4.23 billion, a P/E ratio of -104.55 and a beta of 1.51. The company has a current ratio of 1.50, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average is $78.79 and its 200-day moving average is $74.10. CECO Environmental Corp. has a 1-year low of $42.78 and a 1-year high of $101.24.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Monday, August 10th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.21. CECO Environmental had a negative net margin of 3.39% and a positive return on equity of 7.36%. The business had revenue of $284.96 million during the quarter, compared to analysts’ expectations of $282.21 million. During the same period in the prior year, the company earned $0.26 EPS. The firm’s quarterly revenue was up 53.7% compared to the same quarter last year. Equities research analysts predict that CECO Environmental Corp. will post 2.35 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jason Dezwirek sold 34,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $96.61, for a total transaction of $3,284,740.00. Following the sale, the director owned 166,000 shares of the company’s stock, valued at $16,037,260. This trade represents a 17.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Peter K. Johansson sold 30,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $96.49, for a total value of $2,894,700.00. Following the sale, the chief financial officer directly owned 40,746 shares in the company, valued at approximately $3,931,581.54. This trade represents a 42.41% decrease in their position. The SEC filing for this sale provides additional information. 18.40% of the stock is owned by corporate insiders.

About CECO Environmental

CECO Environmental Corp. (NASDAQ: CECO) is a global technology provider specializing in engineered solutions that help industrial and commercial customers manage air emissions, process fluids and optimize energy use. The company develops custom-engineered systems and modular packages designed to meet evolving environmental regulations and improve operational efficiency across diverse production processes.

CECO’s core offerings include air pollution control equipment—such as scrubbers, cyclones, fabric and cartridge filters—and industrial process filtration systems for applications ranging from particulate removal to oil-water separation.